Footwear Market Surging to Reach USD 626,164.40 million and expected to experience a CAGR of 5.8% by 2030 : Analyses by Size, Trends, Share, Revenue Growth and Key Players
‘Global Footwear Market’ the new research report adds in Data Bridge Market Research’s reports database. This Research Report spread across 329 Page, 53 No of Tables, And 244 No of Figures with summarizing Top companies, with tables and figures. The Footwear market research report presents a comprehensive study on production capacity, consumption, import and export for all the major regions across the world. By keeping in mind the end user’s point of view, a team of researchers, forecasters, analysts and industry expert’s work in-depth to formulate this Footwear market research report. The research and analysis carried out in this Footwear report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. To turn complex market insights into simpler version, well established tools and techniques are used for generation of Footwear report.
Data Bridge Market Research analyses that the footwear market in global is expected to reach the value of USD 626,164.40 million by 2030, at a CAGR of 5.8% during the forecast period. “Sandals/flip-flops” accounts for the most used segment in the footwear market due to mostly prefer to wear indoors, on holidays and gym and can be worn with shorts, trousers, chinos, semi-formals, or any outfits you wear except with formals as long as you feel comfortable, is anticipated to boost the segment’s growth.
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Growing awareness of the latest fashion trends among the young generation is an important driver for the global footwear market. Increasing spending on footwear from online platforms and rising willingness to pay a premium for high-quality shoes are expected to propel the global footwear market growth.
The footwear market industry is concerned with the design, production and distribution and supply of shoes. The raw material may be natural or synthetic, which may be using products of the chemical industry. The footwear industries contribute significantly to the national economy of many countries.
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Year | 2021 (Customizable to 2020-2015) |
| Quantitative Units | Revenue in USD Million |
| Segments Covered | By Type (Loafers, Shoes, Sandal/Flip-Flops, Ballerinas, Boots, Wedges, Athletics, Healthcare Shoes and Others), Shoe Material (Plastic, Leather, Rubber, Textile and Others), Soling Material (Plastics, Rubber, Leather and Others), Distribution Channel (E-Commerce, Specialty-Store, Supermarkets-Hypermarkets, Convenience Store and Others), End-User (Women Men and Children) |
| Countries Covered | U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Luxembourg, Italy and Rest of Europe, China, India, Japan, Australia & New Zealand, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines and Rest of Asia-Pacific, Brazil, Argentina and Rest of South America, South Africa, Saudi Arabia, U.A.E, Israel, Egypt and Rest Of Middle East and Africa |
| Market Players Covered | Crocs Retail, LLC, Adidas, SKECHERS USA, Inc., Nike, Inc., Okabashi., Bata Corporation, GEOX s.p.a, PUMA, Under Armour®, Inc., Wolverine World Wide, Inc., ASICS Corporation., ALDO GROUP, Relaxo Footwears Limited., KERING, VF Corporation, Deichmann SE, FILA Holdings Corp., New Balance, ECCO Sko A/S, Burberry among others. |
Opportunities
- Recent advancements in innovation with new features and design
With the fast evolution and changing lifestyle day by day, and with rising consumers’ disposable income, consumers are more inclined toward fashionable products. Consumers are improving their living standards on the basis of their disposable income and are consuming more fashionable and trendy products. So these kinds of inclinations of the consumer will create an opportunity for the market players operating in the global leather goods market.
Increasing innovation in footwear with new features and designs is the main factor responsible for providing a host of opportunities for a growing consumer base of footwear products. Consumers are more and more aware of the latest fashion trends due to the increasing adoption of social media, and this is expected to create space for new features and designs in the production of different types of leather goods.
- Collaboration with social influencers and superstars
Advertisement and promotion is the main component in uplifting the sales of any product. Businesses use advertising to accomplish various goals. Companies spend a hefty amount of money in promotion and advertisement to promote their brands and products to reach the most consumer and when it comes to the footwear industry is no exception, footwear companies collaborate with various sports events and athletes from various categories to promote their products.
Challenges
- Restriction in regulation from environmental and quality control authority
In today’s world, people have started looking for “Green Products” everywhere. In terms of footwear products, the purchasing decision of consumers was previously based upon comfort, style and aesthetic products, but now more on the eco-friendliness of the products. Many footwear companies have started providing footwear made from eco-friendly fabrics, and the demand for these green products is also increasing.
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Global Footwear Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:
Drivers
- Rising demand for convenient, comfortable and fancy footwear
Shoes and clothes are a necessity for every human need, and just like clothes protect from weather elements such as strong sunlight, cold and rain same, shoes also provide us protection from all the weather elements. Besides that, it also provides a hygiene barrier and safety to our feet that protects us from stones and rumble while walking. It also keeps infectious and toxic materials away from our feet. When it comes to finding a perfect pair of shoes, comfort and look are the customer’s main objectives of the are looking upon to. People buy a shoe based on their needs and requirement. Various types of shoes are worn for different events and occasions. For instance, sports shoes are worn for physical activities like running and playing matched up with sporty outfits, formal shoes are worn for formal events paired up with casual outfits, and fancy shoes are worn for fancy events. Not to deny the fact that beyond looks, people also look for comfort in them.
- Increasing spending on footwear from online platforms
With the improvement of consumer disposable personal income, it is human nature to improve their life standard and provide themselves with things that are more than necessities—buying quality shoes, both mid-range and high-range, with prices instantly increasing. The shoe industry is more interconnected with the digital world. Digital platforms and digital marketing strategies have become the most prevalent platform for customers to shop for the shoes of their choice. With more companies selling their product online via their own website or cooperating with other E-commerce companies, the focus of customers is more towards the online platform where they can see various products in a single click on their fingers regardless of any location they are stationed.
- Increasing sports events and involvement of people in physical activities
Shoes are the most important equipment for every athlete, irrespective of the events and categories they play. Sports like basketball, football, running, cycling and cricket demand high-quality shoes for athletes for comfort, better performance and, most importantly, to prevent injuries. Sports and high physical activities can put tremendous pressure on the feet, ankles and legs. For instance, Jumping and running can generate three to five times more force compared to the body weight on our legs. Companies like Nike, Adidas, and Puma specifically design shoes for various games and sports with advanced technologies that provide comfort and high performance and prevent athletes from being prone to injuries.
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Recent Developments
- In December 2022, Asics developed a gel-resolution 9: high-tech tennis shoe to support your dynamic footwork along the baseline. GEL-RESOLUTION
9 shoes are designed to provide excellent kinetic stability for lateral movements in fast-paced tennis matches - In September 2022, under armour launched its first running shoe made on a women’s last UA Flow Synchronicity combines revolutionary UA Flow technology and consumer insights to create a shoe designed for HER – her form, her speed, her rhythm, her Journey to Compete
Key questions answered in the report:
What will the market development pace of the Footwear market?
What are the key factors driving the Global Footwear market?
Who are the key manufacturers in the market space?
What are the market openings, market hazard and market outline of the market?
What are sales, revenue, and price analysis of top manufacturers of Footwear market?
Who are the distributors, traders, and dealers of Footwear market?
What are the Footwear market opportunities and threats faced by the vendors in the Global Footwear industries?
What are deals, income, and value examination by types and utilizations of the market?
What are deals, income, and value examination by areas of enterprises?
For More Insights Get Detailed TOC at https://www.databridgemarketresearch.com/toc/?dbmr=global-footwear-market
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